$1,000 US Treasury Note Auctioned For $3 Million

ORLANDO, Fla. (AP) -- A $1,000 U.S. Treasury note from 1890 has sold for $3.29 million at a Florida rare currency auction.

Dallas-based Heritage Auctions says the note, known as the "Grand Watermelon note" because of its large-zero design's resemblance to the fruit, became the most valuable piece of currency in existence when it was sold last week at the Florida United Numismatics convention auction in Orlando.

A private collection purchased the note and wished to remain anonymous.

The note's pre-auction estimate was $2 million. It was last offered at an auction in 1970, selling for $11,000.

An 1882 $500 gold certificate was also sold at last week's auction, fetching a sell price of $1.41 million.

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